Jim Cramer’s 10 Stock Picks Heading Into June

2. Eli Lilly And Co (NYSE:LLY)

Number of Hedge Fund Investors: 109

Answering a question about Novo Nordisk, Cramer said that while he believes Novo is a “good growth stocks,” he “likes Eli Lilly better.”

“Eli Lilly may have.. it hasn’t happened yet…a little bit of kick from another drug that it’s working on involving dementia.”

Cramer said although there hasn’t been anything public about this drug yet, he knows that it’s “in the pipe.”

Jim Cramer has been recommending investors to buy and hold Eli Lilly And Co (NYSE:LLY) shares as he’s bullish on Eli Lilly And Co’s (NYSE:LLY) weight loss treatments. His Charitable Trust also owns a stake in Eli Lilly And Co (NYSE:LLY).

Last month, Cramer said that  the  latest selloff around the stock wasn’t “warranted.” He said he’d buy more Eli Lilly And Co (NYSE:LLY) “after the dust settles.”

Baron Health Care Fund stated the following regarding Eli Lilly and Company (NYSE:LLY) in its first quarter 2024 investor letter:

“Eli Lilly and Company (NYSE:LLY) is a global pharmaceutical company that discovers, develops, manufactures, and sells medicines in the categories of diabetes, oncology, neuroscience, and immunology, among other areas. Stock performance was strong due to robust fourth quarter sales of Mounjaro/ Zepbound, better-than-anticipated initial guidance for fiscal year 2024, and ongoing enthusiasm surrounding the company’s obesity and diabetes franchises. We continue to think Lilly is well positioned to grow revenue and earnings at attractive rates through the end of the decade and beyond.”